Power Generation Financial Model

New build assessment of various technologies
DISCLAIMER 28 Apr 2011 12:36 PM
This model ('the Model') has been built to assess the economic cost of the selected technologies
on a case by case basis. The purpose of this modelling is to provide estimates of the
relative cost of electricity generation technologies under different scenarios and assumptions to
inform policy analysis. The outputs do not represent a government view on the relative costs
of the technologies. The modelling is based on levelised costs and is not intended to predict
specific private sector investment decisions or to rank different generation technologies
In regard to nuclear decommissioning and waste disposal details of the work programme and
timetable to establish arrangements for dealing with the costs of decommissioning and waste
from nuclear new build will be published by the time of the White Paper. The Government has not
taken a position on how these arrangements should be designed. For the purposes of the Model
assumptions have been made which in no way prejudice the outcome of work to determine the
arrangements for dealing with the costs of decommissioning and waste from nuclear new build.
The Model has been constructed for a specific purpose and is not intended
for distribution to third parties. Third parties who obtain copies of the Model
should be aware of the following:
· the Model may not be suitable for purposes, other than the specific purpose
for which it was designed, and the interests of third parties may not have
been anticipated;
· the Model was not intended for use by third parties and may not be designed
so that it can be readily operated in a correct manner by such parties;
· material events may have occurred since completion which are not reflected in the Model;
· whilst the Model has been tested, this may not provide an appropriate degree of assurance
for all possible uses of the Model
Model prepared by: Department of Trade and Industry

Structure
New Build Evaluation Model Structure
Input_Main
Input_Main
Main Input Sheet Coal
Main Input Sheet Coal
[General & Plant Specific]
- Input Data - [General & Plant Specific]
Index Operation
Index Operation
Graph data
Graph data
Plant Performance
Power Revenue
Opex: Volume Related
Pre-development &
Pre-development &
construction
construction Margins
- Calculation Section -
Decommissioning
Decommissioning Finance
Finance
Interest During Construction
Interest During Construction
Waste
Waste
Levelised Cost
Levelised Cost
Graphs Sensitivity Summary

Graphs Sensitivity Summary
Graphical Analysis Sensitivity Tables Scenarios
Graphical Analysis Sensitivity Tables Scenarios
Reports Plant Assumptions
Reports Plant Assumptions
- Levelised Costs
- Levelised Costs
Print Definition
- Summary & Other - Print Definition Cover
Cover
Disclaimer
Disclaimer
Summary
Coal Print Control

Summary
Drop
PLANT
Down
VALUATION
Menu Control
CASE: Coal Model checks: OK
PLANT DESIGN COMPONENTS PLANT DATA
Plant Design Pulverised Fuel (ASC) with FGD Plant Total Capacity (MW) 500
Kind First of a kind Net Efficiency (HHV) (Average during operation) 43.4%
Assumptions Data Availability (Average) 90.0%
Construction Period (years) 4
Plant Life (years) 50
Capital Cost (£/kW) 918
Construction Commences 1-Jan-2011 O&M Cost (£/kW) 17
Operation Commences 1-Jan-2015 Decommissioning Fund (£m) PV 0
Avge Annual Decomm. Contribution (£m) Over Operational Life 0.0
Avge Annual Waste Contribution (£m) Over 40 Years 0.0
COST OF GENERATION FINANCE PARAMETERS
Levelised Cost (£/MWh) 26.14 Predevelopment Finance - Equity 100%

Construction - Project Finance (equity remainder) 70%
Debt Margin Rate 2.0%
Discount Rate 10%
MODEL CONTROL CHECK
Pre-dev Calc Check OK 0

Operation Calc Check OK 0
Interest During Construction Check OK 0
Decommissioning Check OK 0
Waste Check OK 0
Master Check OK 0
56976059.xls 04/28/2011 3 / (56)

Summary
56976059.xls 04/28/2011 4 / (56)

Summary
Cost of Generation
LC (£/MWh)
Type Design FOAK NOAK
Nuclear PWR 1 37.51 31.24

Coal Pulverised Fuel (ASC) with FGD 26.14 22.20
Coal Pulverised Fuel (ASC) with FGD with CCS 40.78 36.92
Coal IGCC 29.37 25.41
Coal IGCC with CCS 44.77 40.93
Gas CCGT 34.57 34.26
Gas CCGT with CCS 47.93 47.63
Wind Onshore Wind (80MW) 55.15 54.93
Wind Offshore Wind (100MW) 83.15 82.93
Retrofit Coal
Pulverised Fuel (ASC) with Retrofit FGD with CCS 35.69 31.36
Levelised Cost
Nuclear PWR 1 37.51 31.24
Coal Pulverised Fuel (ASC) with FGD 26.14 22.20
Coal Pulverised Fuel (ASC) with FGD with CCS 40.78 36.92
Coal IGCC 29.37 25.41
Coal IGCC with CCS 44.77 40.93
Gas CCGT 34.57 34.26
Gas CCGT with CCS 47.93 47.63
Wind Onshore Wind (80MW) 55.15 54.93
Wind Offshore Wind (100MW) 83.15 82.93
Retrofit Coal
Pulverised Fuel (ASC) with Retrofit FGD with CCS 35.69 31.36
Current electricity price (£/MWh) 50.0
56976059.xls 04/28/2011 5 / (56)

Strictly Private Confidential
Model Check: OK
Coal
All Values in £m Unless Otherwise Indicated / Yearly Basis
Annual Period Starting
Annual Period Ending
Operating Year No
Operation Year Flag
Operational Flag
Proportion in Year Operation
LEVELISED COSTS
Power Production Total
Power Output, Net (TWh) 197
Operating Costs
Total Fuel Costs 1,564
Fixed O&M Cost 425
Variable O&M Costs 217
Emissions Costs 0
Additional Insurance Costs 0
Additional Security Costs 0
Waste Fund 0
Decommissioning Fund 0
Capital Costs
Predevelopment Costs 0
Construction Costs 2,633
Total
Levelised Cost £/MWh
Fuel 7.9
Fuel Delivery 1.6
Fixed O&M 2.2
Variable O&M 1.1
Emissions Costs 0.0
Additional Insurance Costs 0.0
Additional Security Costs 0.0
Waste Fund 0.0
Decommissioning 0.0
Predevelopment Costs 0.0
Construction Costs 13.3
Storage (pertaining to Carbon Sequestration) 0.0
56976059.xls / 04/28/2011 Levelised costs 6 / (56)

Model Check: OK
Coal
All Values in £m Unless Otherwise Indicated / Yearly Basis
Annual Period Starting
Annual Period Ending
Operating Year No
Operation Year Flag
Operational Flag
Proportion in Year Operation
Total (£/MWh) 26.14
56976059.xls / 04/28/2011 Levelised costs 7 / (56)

Design Kind Assumptions Graph Scenario (Non vs. Escalated)

Pulverised Fuel Coal Pulverised Fuel (ASC) with FGD First of a kind Data Non-escalated
Graphs
Levelised cost of generating electricity

Power output / fuel consumption
90.00
4,500
80.00
4,000
70.00 3,500
60.00 3,000
50.00 2,500
GWh
40.00 2,000
30.00 1,500
1,000
20.00
500
10.00
0
0.00 2008 2012 2016 2020 2024 2028 2032 2036 2040 2044 2048 2052 2056 2060 2064 2068 2072 2076 208
Pulverised Fuel (ASC) with FGD with CCS CCGT with CCS 2006 2010 2014 2018 2022 2026 2030 2034 2038 2042 2046 2050 2054 2058 2062 2066 2070 2074 2078
PWR 1 IGCC with CCS Offshore Wind (100MW)
Gross Energy Generated Fuel Consumption (GWht), Net
Column AA Column AD (before auxiliary deductions)
Power/fuel margin and operating margin Decommissioning and waste funding

80.0%
1 1
70.0% 1 0.9
1 0.8
60.0%
1 0.7
50.0% 1 0.6
0 0.5
40.0%
£m
£m
%
0 0.4
30.0%
0 0.3
20.0% 0 0.2
0 0.1
10.0%
0 0
0.0% 2009 2015 2021 2027 2033 2039 2045 2051 2057 2063 2069 2075 2081 2087
2008 2012 2016 2020 2024 2028 2032 2036 2040 2044 2048 2052 2056 2060 2064 2068 2072 2076 2080 2006 2012 2018 2024 2030 2036 2042 2048 2054 2060 2066 2072 2078 2084 2090
2006 2010 2014 2018 2022 2026 2030 2034 2038 2042 2046 2050 2054 2058 2062 2066 2070 2074 2078
Decommissioning Fund Decommissioning Waste Contributions
Power / Fuel Margin (%) - Non- Operating Margin (%) - Non- Contributions
Escalated Escalated
56976059.xls / 04/28/2011 Graphs 8 / (56)

064 2068 2072 2076 2080

2066 2070 2074 2078
0.9
0.8
0.7
0.6
0.5
£m
0.4
0.3
0.2
0.1
0
2087
84 2090
56976059.xls / 04/28/2011 Graphs 9 / (56)

Design Kind Assumptions Graph Scenario (Non vs. Escalated)

Pulverised Fuel Coal Pulverised Fuel (ASC) with FGD First of a kind Data Non-escalated
Graphs
56976059.xls / 04/28/2011 Graphs 10 / (56)

56976059.xls / 04/28/2011 Graphs 11 / (56)

Model Check: OK
Pulverised Fuel Coal
PLANT SENSITIVITIES AND COST OF GENERATING
LC (£/MWh)
Sensitivity Comment SensitivityType SensitivityValue FOAK NOAK
BASE CASE Base 26.14 21.97
Predevelopment - Low £0m PredevelopmentCost 0 26.14 21.97

Predevelopment - High £0m PredevelopmentCost 0 26.14 21.97
Reduction Predevelopment Period 12 month reduction PredevelopmentPeriod1 48 26.14 21.97
Increased Predevelopment Period 12 month increase PredevelopmentPeriod2 48 26.14 21.97
Construction Period - Low 3 years ConstructionPeriod1 36 25.74 21.65
Construction Period - High 5 years ConstructionPeriod2 60 26.79 22.47
Operation Period - Low 25 years OperationPeriod 25 27.40 22.95
Operation Period - High 60 years OperationPeriod 60 26.07 21.91
Capital Cost - Low £800/kW CapitalCost 800 24.43 23.16
Capital Cost - High £1800/kW CapitalCost 1,800 38.97 37.70
Capital Cost - Very high £2000/kW CapitalCost 2,000 41.88 40.61
Availability - first 5 years - Low 60% AvailabilityFirst 60% 26.35 22.12
Availability - first 5 years - High 90% AvailabilityFirst 90% 26.14 21.97
Availability - thereafter - Low 80% AvailabilityOngoing 80% 28.00 23.32
Availability - thereafter - High 90% AvailabilityOngoing 90% 26.14 21.97
Fixed O&M Cost - Low £15/kW O&MCost 15 25.89 22.98
Fixed O&M Cost - High £120/kW O&MCost 120 39.20 36.29
Fuel Cost - Low 21 FuelCost 21 24.86 20.68
Fuel Cost - High 53 FuelCost 53 34.98 30.81
CO2 Cost - Low £10/CO2e CarbonCost 10 33.42 29.25
CO2 Cost - Medium £17/CO2e CarbonCost 17 38.51 34.34
CO2 Cost - High £25/CO2e CarbonCost 25 44.34 40.16
Discount Rate - Low 7% DiscountRate 7.0% 22.39 19.03
Discount Rate - High 12% DiscountRate 12.0% 28.73 23.99
Decom fund - Low £0/kW DecomCost 0 26.14 21.97
Decom fund - High £0/kW DecomCost 0 26.14 21.97
Waste fund - Low £0/kW WasteCost 0 26.14 21.97
Waste fund - High £0/kW WasteCost 0 26.14 21.97
Finance - Low margin Project debt margin 1.5% FinanceCoD 1.5% 26.00 21.86
Finance - High margin Project debt margin 3% FinanceCoD 3.0% 26.47 22.22
Finance - Low leverage Leverage: 50% FinanceLeverage 50.0% 25.68 21.61
Finance - High leverage Leverage: 80% FinanceLeverage 80.0% 26.37 22.15
56976059.xls / 04/28/2011 Sensitivity 12 / (56)

Model Check: OK
PLANT SENSITIVITIES AND COST OF GENERATING
LC (£/MWh)
Sensitivity Comment SensitivityType SensitivityValue FOAK
BASE CASE Base 26.14
Predevelopment - Low £0m PredevelopmentCost 0 26.14

Predevelopment - High £0m PredevelopmentCost 0 26.14
Reduction Predevelopment Period 12 month reduction PredevelopmentPeriod1 48 26.14
Increased Predevelopment Period 12 month increase PredevelopmentPeriod2 48 26.14
Construction Period - Low 3 years ConstructionPeriod1 36 25.74
Construction Period - High 5 years ConstructionPeriod2 60 26.79
Operation Period - Low 25 years OperationPeriod 25 27.40
Operation Period - High 60 years OperationPeriod 60 26.07
Capital Cost - Low £800/kW CapitalCost 800 24.43
Capital Cost - High £1800/kW CapitalCost 1,800 38.97
Capital Cost - Very high £2000/kW CapitalCost 2,000 41.88
Availability - first 5 years - Low 60% AvailabilityFirst 60% 26.35
Availability - first 5 years - High 90% AvailabilityFirst 90% 26.14
Availability - thereafter - Low 80% AvailabilityOngoing 80% 28.00
Availability - thereafter - High 90% AvailabilityOngoing 90% 26.14
Fixed O&M Cost - Low £15/kW O&MCost 15 25.89
Fixed O&M Cost - High £120/kW O&MCost 120 39.20
Fuel Cost - Low 21 FuelCost 21 24.86
Fuel Cost - High 53 FuelCost 53 34.98
CO2 Cost - Low £10/CO2e CarbonCost 10 33.42
CO2 Cost - Medium £17/CO2e CarbonCost 17 38.51
CO2 Cost - High £25/CO2e CarbonCost 25 44.34
Discount Rate - Low 7% DiscountRate 7.0% 22.39
Discount Rate - High 12% DiscountRate 12.0% 28.73
Decom fund - Low £0/kW DecomCost 0 26.14
Decom fund - High £0/kW DecomCost 0 26.14
Waste fund - Low £0/kW WasteCost 0 26.14
Waste fund - High £0/kW WasteCost 0 26.14
Finance - Low margin Project debt margin 1.5% FinanceCoD 1.5% 26.00
Finance - High margin Project debt margin 3% FinanceCoD 3.0% 26.47
Finance - Low leverage Leverage: 50% FinanceLeverage 50.0% 25.68
Finance - High leverage Leverage: 80% FinanceLeverage 80.0% 26.37
56976059.xls / 04/28/2011 Sensitivity 13 / (56)

Input_Main
Coal Model Check: OK
Project Assumptions - Main Input Sheet / Coal
General Information
Project Base Data (I)
Project Developer DTI
Project Name Pulverised Fuel Coal
Financial Model Version Version 2006
Financial Model Type New Build Evaluation Model
Market Price Forecasts Based on (source) DTI projections April 2006
Calculation Model Manual
Power Plant / Name Price Unit Fuel Units Aux Power

Plant 2 2 Coal £ tonne 1.8%
Selected: £ tonne 1.8%
Reactor Design
Pulverised Fuel (ASC) with FGD
Kind
First of a kind
Assumptions
Data
Project Base Data (II)

Base Monetary Unit (I) £
Base Monetary Unit (II) p
FX (£/USD) 0.5719 Incentives / Exemptions
FX (£/Euro) 0.6921 Renewables Obligation On or Off Off Refer row 270
FX (£/CAN$) 0.4914 Climate Change Levy On or Off Off Refer row 282
Inflation 2.75% Recycling Benefit On or Off Off Refer row 294
Corporate Tax Rate 30.0%
Proportion of current year tax charge paid in current year 50.0% (Remainder paid in following year)
Modelling Dates Unit

Financial Model Base Date (Date) 1-Jan-2006
Latest Model Update (Date) 17-Mar-2006
Months Per Year (Months) 12
Conversion Factors
Summary Sheet Unit 1,000
Timing
Key Dates / Time Periods Unit
Financial close 1-Jan-2007
Financial close (to closest year) 1-Jan-2007
Prelicensing Period (months) 0 (years) 0 (days) 0
Site Specific Licensing Period (months) 24 (years) 2 (days) 730
Public Enquiry Period (months) 24 (years) 2 (days) 730
Pre-development Period - Subtotal (months) 48 (years) 4
Pre-development Period (NOAK Adjustment) (months) 0 (years) 0
Total Pre-development Period (including NOAK) (months) 48 (years) 4.0
56976059.xls 04/28/2011 14 / (56)

Input_Main

Construction Start Date 1-Jan-2011
Construction Start Date (to closest year) 1-Jan-2011 Project Finance period after Construction 2 (years)
Construction Period (months) 48 (years) 4.0 Project Finance End Date 1-Jan-2017
Commercial Operation Start Date 1-Jan-2015
Commercial Operation Start Date (to closest year) 1-Jan-2015
Plant Operating Period (years) 50
Commericial Operation End Date 1-Jan-2065
Commericial Operation End Date (to closest year) 1-Jan-2065
Decommissioning Cooldown (years) 0
Decommissioning Start Date 1-Jan-2065
Decommissioning Start Date (to closest year) 1-Jan-2065 Waste Disposal Start Date 1-Jan-2065
Decommissioning Period (months) 12 (years) 1 Waste Disposal Cashflows (years) 1
Decommissioning End Date 1-Jan-2066 Waste Disposal End Date 1-Jan-2066
Decommissioning End Date (to closest year) 1-Jan-2066
Project End Period 0
Project End Date 1-Jan-2066
Project End Date (to closest year) 1-Jan-2066 Waste Disposal Frequency (years) 10
Hours in a year 8,760
Time Flag (Annual) 0 0 0 0 0 1 2 3 4 5 6 0 0

Annual Period Starting 1-Jan-2005 1-Jan-2006 1-Jan-2007 1-Jan-2008 1-Jan-2009 1-Jan-2010 1-Jan-2011 1-Jan-2012 1-Jan-2013 1-Jan-2014 1-Jan-2015 1-Jan-2016 1-Jan-2017 1-Jan-2018
Annual Period Ending 31-Dec-2005 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
Year Flag 1 2 3 4 5 6 7 8 9 10 11 12 13
Days in Period 364 365 366 365 365 365 366 365 365 365 366 365 365
Project Life Flag (Start to End) 0 1 1 1 1 1 1 1 1 1 1 1 1
Proportion of Period in Operation 0% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Calculation Flags
Proportion of Period in Pre-development 0% 100% 100% 100% 100% 0% 0% 0% 0% 0% 0% 0% 0%
Pre-development Year Flag - 1 2 3 4 - - - - - - - -
Pre-development Days in Period 0 364 366 365 365 1 0 0 0 0 0 0 0
Pre-development Phase Flag 0 1 1 1 1 0 0 0 0 0 0 0 0
Proportion of Period in Construction 0% 0% 0% 0% 0% 100% 100% 100% 100% 0% 0% 0% 0%
Construction Period Year Flag - - - - - 1 2 3 4 - - - -
Construction Days in Period 0 0 0 0 0 364 366 365 365 1 0 0 0
Construction Phase Flag 0 0 0 0 0 1 1 1 1 0 0 0 0
Construction Start Flag 0 0 0 0 0 1 0 0 0 0 0 0 0
Project Finance Period Year Flag - - - - - 1 2 3 4 5 6 - -
Project Finance Phase Flag 0 0 0 0 0 1 1 1 1 1 1 0 0
Proportion of Period in Operation 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 100% 100% 100% 100%
Operation Year Flag - - - - - - - - - 1 2 3 4
Operation Days in Period 0 0 0 0 0 0 0 0 0 364 366 365 365
Operational Phase Flag 0 0 0 0 0 0 0 0 0 1 1 1 1
Start of Operational Phase Flag 0 0 0 0 0 0 0 0 0 1 0 0 0
End of Operational Phase Flag 0 0 0 0 0 0 0 0 0 0 0 0 0
Construction / Operation Phase Flag 0 0 0 0 0 1 1 1 1 1 1 1 1
Proportion of Period in Waste Storage 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Waste Disposal Spend Flag 0 0 0 0 0 0 0 0 0 0 0 0 0
Waste Disposal Phase Flag 0 0 0 0 0 0 0 0 0 0 0 0 0
Proportion of Period in Decommissioning 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Decommissioning Days in Period 0 0 0 0 0 0 0 0 0 0 0 0 0
Decommissioning Phase Flag 0 0 0 0 0 0 0 0 0 0 0 0 0
Decommissioning Year Flag 0 0 0 0 0 0 0 0 0 0 0 0 0
Pre-development Distribution 100.0% 0% 25% 25% 25% 25% 0% 0% 0% 0% 0% 0% 0% 0%

Pre-development Distribution Check ok TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE
Capex Distribution 100.0% 0% 0% 0% 0% 0% 15% 24% 42% 19% 0% 0% 0% 0%
Capex Distribution Check ok TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE
56976059.xls 04/28/2011 15 / (56)

Input_Main

Energy / Plant Data
Plant Data I Data
Power Output (MW) 500
Gross Efficiency (norm./actual) 46%
Plant Data II
Gross to Net efficiency factor (HHV/LHV) 1.05
Output Degradation 100%
Heat Rate Degradation 100%
Run In Period (years) 2
Availability (first X years) 90%
Availability (thereafter) 90%
Pre-development Costs
Pre-development Cost (£'000) Data Tax ded'ble
Prelicensing - cost 0 0%
Technical including design selection 0 0%
Regulatory including licensing and EIA 0 50%
Regulatory - public enquiry - cost 0 50% Non-sensitised
Total Pre-development Costs 0 0
Construction Costs
Construction Cost Data
Capital cost (£/kW) 918
Capital Cost (£'000) 459,000
Infrastructure Cost (£/kW) 0
Waste Disposal Cost (£/kW) 0
Land - acquisition cost 0
Operation & Maintenance / Other Operation Costs

Operation and Maintenance Cost Data
O&M Fee (£/kW) 17.0 Storage Flag (feeds into levelised cost sheet) Transmission Flag (feeds into levelised cost sheet)
Additional Insurance (£/kW) 0.0 £6/MWh based on £8/t CO2 Yes or No 0.0 £9/MWh based on £8/MWh in 2001 Yes orprices
No 0.0
Additional Security (£/kW) 0.0
Total O&M Fee (£/kW) 17.0 Deduction Flag
Variable O&M (£/MWh) 1.1 Remove storage Yes or No No 0.0
Decomissioning Fund Waste Fund

Start Date, Year 2015 Start Date, Year 2015
Decommissioning Cost (£/kW) 0 £m Waste Cost (£/kW) 0
Decommissioning Fund (£'000) PV £000 0 15 % Check: 69 Waste Fund (£'000) PV 0
Decommissioning Cashflows (£'000) Per Annum £000 pa 0 Assumes over 1 years Waste Cashflows (£'000) Per Annum 0 Assumes over 1 years
Fund growth rate (post-tax, real) 2.2% Fund growth rate (post-tax, real) 2.2%
Fund growth rate (post-tax, nominal) 5.0% Fund growth rate (post-tax, nominal) 5.0%
Decommissioning Funding Scenario Waste Funding Scenario

1 Over Operational Life 1 Over Operational Life
2 Over Half Life 2 Starts after five years
3 Over 40 Years 3 Over 40 Years
4 Variable payment over years 4 Variable payment over years
Selected Option Selected Option
1 Over Operational Life
Over Operational Life 3 Over 40 Years
Over 40 Years
Working Capital 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
Circulation Time of Accounts Receivable (Days) 30 30 30 30 30 30 30 30 30 30 30 30 30
Circulation Time of Accounts & Bills Payable (Days) 30 30 30 30 30 30 30 30 30 30 30 30 30
56976059.xls 04/28/2011 16 / (56)

Input_Main

Fuel Cost Assumptions ( Spot / Contract)
Fuel Unit conversion Fuel Delivery Flag
Conversion factor 7,277,777.78 MWht per Mtonne 1.00 £ per £ £0.7/MWh based on UEP model
Yes or No Yes
Fuel Supply Scenarios - Selected Option

31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
Fuel Cost - Coal Central Case - DTI July 2006 33.0 31.5 30.1 28.6 27.2 26.9 26.7 26.5 26.3 26.1 25.9 25.6 25.4
Contract Data
Contract Period / Years 0.0
Minimum Take-or-Pay Contract Amount (million tonnes / therms) 0.0
Max Contract Amount (million tonnes /therms) 0.0
Contract Price (£/tonne or p/therm) 0.0
Power Price Assumptions (Merchant / PPA)
Plant Contractual Status / Capacity MW

Plant Total Capacity 500 %
Power Purchase Agreement (PPA) 0.0 0.0%
Merchant Concept 500 100.0%
Total Capacity, MW 500 100.0%
Contract Lifetime
Power Purchase Agreement (PPA) Period / Years 0
Power Purchase Agreement (PPA)
Power Price Scenarios (£/MWh) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
PPA Price 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Market Price Scenarios
Power Price Scenarios (£/MWh) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
1 Low 20.92 20.92 20.92 20.92 20.92 20.92 20.92 20.92 20.92 20.92 20.92 20.92 20.92
2 Central 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15
3 High 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00 55.00
4 XXX
5 XXX
Selected Option
2 Central
Central 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15 26.15
Emission Cost Assumptions

Annual Permit Allowance 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
Annual Permit Allowance 78% 78% 78% 78% 78% 78% 78% 78% 78% 78% 78% 78% 78%
Emissions Data
Emissions - Operation (base plant) tCO2e/MWh 0.728
Emissions - Operation (base plant with CCS) tCO2e/MWh 0.728
EU ETS Trading Flag 0 or 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Carbon Cost Scenarios (£/tCO2e) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
1 Low 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
2 Central 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00
3 High 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00
4 Assume no carbon price post 2012 6.92 6.92 6.92 6.92 6.92 6.92 6.92 0.00 0.00 0.00 0.00 0.00 0.00
Selected Option
4 Assume no carbon price post 2012
Assume no carbon price post 2012 6.92 6.92 6.92 6.92 6.92 6.92 6.92 0.00 0.00 0.00 0.00 0.00 0.00
56976059.xls 04/28/2011 17 / (56)

Input_Main

Renewables Obligation, CCL and Recycling Benefit Assumptions
Renewables Obligation Flag 0 or 1 0 0 0 0 0 0 0 0 0 0 0 0 0
Renewable Obligation Certificate Scenarios (£/MWh) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
1 Low 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00
2 Central
3 High
Selected Option
1 Low Low 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00 45.00
Climate Change Levy Flag 0 or 1 0 0 0 0 0 0 0 0 0 0 0 0 0
Climate Change Levy Scenarios (£/MWh) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
1 Low 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44
2 Central
3 High
Selected Option
1 Low Low 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44 3.44
Recycling Benefit Flag 0 or 1 0 0 0 0 0 0 0 0 0 0 0 0 0
Recycling Benefit Scenarios (£/MWh) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017 31-Dec-2018
1 Low 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
2 Central 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00 6.00
3 High 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00
Selected Option
1 Low Low 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Accounting & Finance

Book Depreciation Yrs Method
Plant & Machinery 50 Straight line
Buildings 50 Straight line
Capital Allowances %
Industrial Buildings Allowances (SL Basis) 85% 4%
Write Down Allowances (Reducing Balance) 15% 6%
Dividends
Dividends Payable Even If No P&L Reserves n/a 2
No
Financing
Pre-Development %
Debt 0%
Equity 100%
Total Capital 100.0%
Project Finance %
Debt 70.00%
Equity 30.00%
Construction Financing
Financing Date, Year 2011
Maturity, Yrs 6
Risk Free Interest Rate / LIBOR 4.26%
Debt Margin Rate 2.00%
Arranging Fees (% of debt) 1.80%
Tolerance on Arrangement Fee Convergence check 0.01
56976059.xls 04/28/2011 18 / (56)

Input_Main

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Year Flag - - - - - 1 2 3 4 5 6 - -
Senior Debt / Structured Repayment Profile Flag - - - - - 1 1 1 1 1 1 - -
1 Structured Repayment 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 0.0%
2 Straight Line Repayment 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 16.7% 16.7% 16.7% 16.7% 16.7% 16.7% 0.0% 0.0%
Loan Type
1 Structured Repayment
Structured Repayment 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 100.0% 0.0%
Re-Financing Project Debt
Structure %
Senior Debt 70%
Junior Debt 0%
Equity 30%
Refinancing Yes 1
Refinancing Takes Place, Date 2017 Senior Debt Profile
Senior Debt Amortised Bullet Check
Senior Debt Maturity, Yrs 20 90% 10% 100.0%
Senior Debt Margin Rate 2.00%
Junior Debt Junior Debt Profile
Junior Debt Maturity Period After Senior Debt (years) 2 Amortised Bullet Check
Junior Debt Maturity, Yrs 22 0% 100% 100.0%
Junior Debt Margin Rate 1.50%
56976059.xls 04/28/2011 19 / (56)

Input_Main

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Year Flag - - - - - - - - - 1 2 3 4
Senior Debt Repayment Profile Phase Flag 0 0 0 0 0 0 0 0 0 0 0 1 1
Senior Debt Repayment 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 4.5% 4.5%
Junior Debt Repayment Profile

Junior Debt Repayment 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Target Cover Ratios

Target DSCR 1.40x
Target LLCR 1.00x
Max (LLCR) 100.00x
Short-Term Funding Facility

Max Short-Term Funding Facility Balance (m£) 3
Short-Term Facility Interest Rate 2.00%
Opening Balance - Short Term Funding 10
Interest on Cash
Interest on Cash 2.00%
Rates / Valuation
Levelised Discount Rate ( LC_WACC) 10 10.00%
Indexation Years Year

Indexation Start Year, I 2006
General Information
Graph Scenario (Non vs. Escalated)

Real Terms (Non-Escalated) 1 1=Non-Escl, 2=Escl.
Nominal (Escalated)
56976059.xls 04/28/2011 20 / (56)

Input_Coal
New Build Evaluation Model Model Check: OK
Project Assumptions / Coal

Design and Build Type
Design
1 Pulverised Fuel (ASC) with FGD
2 Pulverised Fuel (ASC) with FGD with CCS
3 IGCC
4 IGCC with CCS
Selected Option Storage Flag

1 Pulverised Fuel (ASC)
Pulverised Fuelwith(ASC)
FGD with FGD £6/MWh based on £8/t CO2 Yes or No 0.0
£8/tCO2 equates to (£/MWh) 6
Kind
1 First of a kind
2 Nth of a kind
Selected Option
1 First of a kind
First of a kind
Assumptions
1 Data
2 Redpoint
3 Spare2
Selected Option Deduction Flag

1 Data
Data Remove storage Yes or No No
Timing
Key Dates / Time Periods Unit Data Unit Data Unit
Financial close 1-Jan-2007 1-Jan-2007
Prelicensing Period (months) - (years) 0 (days) 0 (months) 0 (years) 0 (days) 0 (months)
Site Specific Licensing Period (months) 24 (years) 2 (days) 730 (months) 24 (years) 2 (days) 730 (months)
Public Enquiry Period (months) 24 (years) 2 (days) 730 (months) 24 (years) 2 (days) 730 (months)
Pre-development Period - Subtotal (months) 48 (years) 4 (months) 48 (years) 4 (months)
Pre-development Period (NAOK Adjustment) (months) - (years) 0 (months) - (years) 0 (months)
Total Pre-development Period (including NAOK) (months) 48 (years) 4 (months) 48 (years) 4 (months)
Construction Start Date 1-Jan-2011 1-Jan-2011
Construction Period (months) 48 (years) 4.0 (months) 48 (years) 4 (months)
Commercial Operation Start Date 1-Jan-2015 1-Jan-2015
Plant Operating Period (years) 50 (years) 50 (years)
Commericial Operation End Date 1-Jan-2065 1-Jan-2065
Decommissioning Cooldown (years) - (years) 0 (years)
Decommissioning Start Date 1-Jan-2065 1-Jan-2065
Decommissioning Period (months) 12 (years) 1 (months) 12 (years) 1 (months)
Decommissioning End Date 1-Jan-2066 1-Jan-2066
31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017
Pre-development Distribution 100.0% 0% 25% 25% 25% 25% 0% 0% 0% 0% 0% 0% 0%
Capex Distribution 100.0% 0% 0% 0% 0% 0% 15% 24% 42% 19% 0% 0% 0%
Energy / Plant Data

Plant Data I Data Data Redpoint Spare2
Power Output (MW) 500 500 500 -
Gross Efficiency (norm./actual) 46% 46% 44% 0%
Plant Data II
Gross to Net efficiency factor (LHV/HHV) 1.05
Output Degradation 100.0%
Heat Rate Degradation 100.0%
Data Redpoint Spare2
Run In Period (years) 2 2 2 -
Availability (first X years) 90% 90% 90% 0%
Availability thereafter 90% 90% 90% 0%
56976059.xls 04/28/2011 21 / (56)

Input_Coal
Redpoint Unit Spare2

1-Jan-2007 1-Jan-2007
0 (years) 0 (days) 0 (months) 0 (years) 0 (days) 0
48 (years) 4 (months) 48 (years) 4
- (years) 0 (months) - (years) 0
1-Jan-2011 1-Jan-2011
1-Jan-2015 1-Jan-2015
50 (years) -
1-Jan-2065 1-Jan-2015
0 (years) 0
1-Jan-2065 1-Jan-2015
1-Jan-2066 1-Jan-2016
31-Dec-2018 31-Dec-2019 31-Dec-2020 31-Dec-2021 31-Dec-2022 31-Dec-2023 31-Dec-2024 31-Dec-2025 31-Dec-2026 31-Dec-2027 31-Dec-2028 31-Dec-2029 31-Dec-2030 31-Dec-2031 31-Dec-2032 31-Dec-2033 31-Dec-2034
0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
56976059.xls 04/28/2011 22 / (56)

Input_Coal
Pre-development Costs
Pre-development Cost (£'000) Data Data Redpoint Spare2 Data Data Redpoint Spare2
Prelicensing - 0 0 0 0% 0% 0% 0%
Technical including design selection - 0 0 0 0% 0% 0% 0%
Regulatory including licensing and EIA - 0 0 0 50% 50% 50% 50%
Regulatory - public enquiry - cost per day - 0 0 0 50% 50% 50% 50%
Regulatory - public enquiry - cost - 0 0 0
Total Pre-development Costs 0 0 0 0
Construction Costs
Construction Cost Data Data Redpoint Spare2
Capital cost (£/kW) 918 918 882 -
Waste Disposal Cost (£/kW) - 0 0 0
Infrastructure Cost (£/kW) - - - -
Capital Cost (£'000) 459,000 459,000 441,000 0
Land - acquisition cost (£'000) - - - -
Operation & Maintenance / Other Operation Costs

Operation and Maintenance Cost Data Data Redpoint Spare2
O&M Fee (£/kW) 17 17 31 -
Additional Insurance (£/kW) - 0.0 0.0 0.0
Additional Security (£/kW) - 0.0 0.0 0.0
Total O&M Fee (£/kW) 17 17 31 0
Variable O&M (£/MWh) 1.1 1 2 -
Waste Fund (£'000) - 0 0 0
Decommissioning Fund (£'000) - 0 0 0
Working Capital
Circulation Time of Accounts Receivable (Days) 30 30 30 30 30 30 30 30 30 30 30 30
Circulation Time of Accounts & Bills Payable (Days) 30 30 30 30 30 30 30 30 30 30 30 30
Fuel Cost Assumptions (Contract / Spot)

Fuel Fuel Delivery Flag
Conversion factor 7,277,777.78 MWht per Mtonne 1 £ per £ £0.7/MWh based on UEP model Yes or No Yes
Coal Cost Scenarios £/tonne 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017
1 Coal Central Case - DTI July 2006 33.00 31.54 30.08 28.62 27.16 26.94 26.73 26.51 26.29 26.08 25.86 25.65
2 Coal Low Case - DTI July 2006 31.82 28.66 25.40 22.24 18.97 18.56 18.16 17.65 17.24 16.83 16.32 15.91
3 Coal High Case - DTI July 2006 35.00 35.58 36.17 36.75 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52
4 Coal - Markal price 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50
5 XXX
6 XXX
7 XXX
8 XXX
9 XXX 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Selected Option
1 Coal Central Case - DTI July 2006
Coal Central Case - DTI July 2006 33.00 31.54 30.08 28.62 27.16 26.94 26.73 26.51 26.29 26.08 25.86 25.65
Contract Data Data Redpoint Spare2

Contract Period (years) - 0 0 0
Minimum Take-or-Pay Contract Amount (million tonnes) - 0.0 0.0 0.0
Max Contract Amount (million tonnes) - 0.0 0.0 0.0
Contract Price (£/tonne) - 0.00 0.00 0.00
Contract Assumptions (PPA)

Contract Data Data Redpoint Spare2
Contract Period (years) - 0 0 0
Minimum Take-or-Pay Contract Amount (MWh) - 0.0 0.0 0.0
Max Contract Amount (MWh) - 0.0 0.0 0.0
Contract Price (£/MWh) 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014 31-Dec-2015 31-Dec-2016 31-Dec-2017
Power Purchase Agreement (PPA) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Emissions
Emissions - Operation Data Data Redpoint Spare2
CO2 - base plant tCO2e/MWh 0.728 0.728 0.753 #DIV/0!
CO2 - base plant with CCS tCO2e/MWh 0.728 0.728 0.753 #DIV/0!
56976059.xls 04/28/2011 23 / (56)

Input_Coal
30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
25.43 25.22 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00
15.50 14.99 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59 14.59
36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52 36.52
30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
25.43 25.22 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
56976059.xls 04/28/2011 24 / (56)

Input_Coal
Waste Fund Costs

Waste Cost ('000) Data Data Redpoint Spare2
Capital cost (£/kW) - 0.0 0.0 0.0
Total Decommissioning Costs 0 0 0 0
Decommissioning Costs
Decomissioning Cost ('000) Data Data Redpoint Spare2
Capital cost (£/kW) - - - -
Total Decommissioning Costs 0 0 0 0
Accounting & Finance

Depreciation Data Yrs % Data Yrs Method Redpoint Yrs Method
Plant & Machinery 50 Straight line 50 Straight line 50 Straight line
Buildings 50 Straight line 50 Straight line 50 Straight line
Capital Allowances Data % Data % Redpoint %

Industrial Buildings Allowances (SL Basis) 85% 4% 85.0% 4.0% 85.0% 4.0%
Write Down Allowances (Reducing Balance) 15% 6% 15.0% 6.0% 15.0% 6.0%
56976059.xls 04/28/2011 25 / (56)

Input_Coal
Spare2 Yrs Method

0 Straight line
0 Straight line
Spare2 %
85.0% 4.0%
15.0% 6.0%
56976059.xls 04/28/2011 26 / (56)

Pre_Constr
Coal Sheet Check: 0
All Values in £'000s Unless Otherwise Indicated / Yearly Basis

Annual Period Starting 1-Jan-2006 1-Jan-2007 1-Jan-2008 1-Jan-2009 1-Jan-2010 1-Jan-2011 1-Jan-2012 1-Jan-2013 1-Jan-2014
Annual Period Ending 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013 31-Dec-2014
Pre-development Year No 0 1 2 3 4 0 0 0 0
Pre-development Flag 0 1 1 1 1 0 0 0 0
Proportion in Year Pre-development 0% 100% 100% 100% 100% 0% 0% 0% 0%
Pre-development
Pre-development Cost
Pre-development Total
Prelicensing - cost 0 0 0 0 0 0 0 0 0 0
Technical including design selection 0 0 0 0 0 0 0 0 0 0
Regulatory including licensing and EIA 0 0 0 0 0 0 0 0 0 0
Regulatory - public enquiry - cost 0 0 0 0 0 0 0 0 0 0
Total Pre-development Costs 0 0 0 0 0 0 0 0 0 0
Escalated
Total Pre-development Costs - Escalated 0 0 0 0 0 0 0 0 0 0

Construction Year No 0 0 0 0 0 1 2 3 4
Construction Flag 0 0 0 0 0 1 1 1 1
Construction Start Flag 0 0 0 0 0 1 0 0 0
Waste Disposal Flag 0 0 0 0 0 0 0 0 0
Proportion in Year Construction 0% 0% 0% 0% 0% 100% 100% 100% 100%
Construction
Construction Cost
Construction cost Total

Capital Cost 459,000 0 0 0 0 0 68,850 110,160 192,780 87,210
Waste Disposal Cost 0 0 0 0 0 0 0 0 0 0
Infrastructure Cost 0 0 0 0 0 0 0 0 0 0
Total Construction Costs 459,000 0 0 0 0 0 68,850 110,160 192,780 87,210
Construction Costs - Escalated 565,052 0 0 0 0 0 81,021 133,198 239,506 111,328
56976059.xls 04/28/2011 27 / (56)

Pre_Constr
Coal Sheet Check: 0

Pre-development
Escalated

Construction
Construction Cost

Capital Cost 459,000 0 0 0 0 0 0 0 0 0
Total Construction Costs 459,000 0 0 0 0 0 0 0 0 0
Construction Costs - Escalated 565,052 0 0 0 0 0 0 0 0 0
56976059.xls 04/28/2011 28 / (56)

Pre_Constr
Coal Sheet Check: 0

Pre-development
Escalated

Construction
Construction Cost

Capital Cost 459,000 0 0 0 0 0 0 0 0 0
Total Construction Costs 459,000 0 0 0 0 0 0 0 0 0
Construction Costs - Escalated 565,052 0 0 0 0 0 0 0 0 0
56976059.xls 04/28/2011 29 / (56)

Pre_Constr
Coal Sheet Check: 0

Annual Period Starting 1-Jan-2033 1-Jan-2034
Annual Period Ending 31-Dec-2033 31-Dec-2034
Pre-development Year No 0 0
Pre-development Flag 0 0
Proportion in Year Pre-development 0% 0%
Pre-development
Prelicensing - cost 0 0 0
Technical including design selection 0 0 0
Regulatory including licensing and EIA 0 0 0
Regulatory - public enquiry - cost 0 0 0
Total Pre-development Costs 0 0 0
Escalated
Prelicensing - cost 0 0 0
Technical including design selection 0 0 0
Regulatory including licensing and EIA 0 0 0
Regulatory - public enquiry - cost 0 0 0
Total Pre-development Costs - Escalated 0 0 0

Construction Year No 0 0
Construction Flag 0 0
Construction Start Flag 0 0
Waste Disposal Flag 0 1
Proportion in Year Construction 0% 0%
Construction
Construction Cost

Capital Cost 459,000 0 0
Waste Disposal Cost 0 0 0
Infrastructure Cost 0 0 0
Total Construction Costs 459,000 0 0
Construction Costs - Escalated 565,052 0 0
56976059.xls 04/28/2011 30 / (56)

Operation
Coal Sheet Check: 0 UNITS

Annual Period Starting 1-Jan-2006 1-Jan-2007 1-Jan-2008 1-Jan-2009 1-Jan-2010 1-Jan-2011 1-Jan-2012 1-Jan-2013
Annual Period Ending 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012 31-Dec-2013
Operating Year No 0 0 0 0 0 0 0 0
Operational Flag 0 0 0 0 0 0 0 0
Proportion in Year Operation 0% 0% 0% 0% 0% 0% 0% 0%
Power Production
PLANT PERFORMANCE
Average during
Power Generation operation
Gross Plant Output (MW) MWe 0 0 0 0 0 0 0 0
Output Degradation 100.0% % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Net Plant Output (MW) MWe 0 0 0 0 0 0 0 0
Available Operating Hours during the Period Hours 0 0 0 0 0 0 0 0

Overall Availability Total 90.0% % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Gross Energy Generated (before auxiliary deductions) 197,229,600 MWhe 0 0 0 0 0 0 0 0
Auxiliary Power Requirement % 1.8% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8% 1.8%
Gross Energy Generated (before auxiliary deductions) 197,229,600 3,944,592 MWhe 0 0 0 0 0 0 0 0
Energy Sent Out 193,679,467 3,873,589 MWhe 0 0 0 0 0 0 0 0
Average during
Fuel Consumption Total operation
Gross Efficiency % 45.6% % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Net Efficiency % 43.4% % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fuel Consumption (MWht), Gross 454,147,105 9,082,942 MWht 0 0 0 0 0 0 0 0
Heat Rate Degradation % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Fuel Consumption (MWht), Net 454,147,105 9,082,942 MWht 0 0 0 0 0 0 0 0
Thermal energy to fuel energy conversion MWht per Mtonne 7,277,777.8

Fuel Consumption (million tonnes or million therms) 62 1 Mtonne 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fuel Consumption (tonnes or therms) 62,401,892 1,248,038 tonne 0 0 0 0 0 0 0 0
56976059.xls 04/28/2011 31 / (56)

Operation

Power Production
PLANT PERFORMANCE
Average during
Available Operating Hours during the Period Hours 0 8,736 8,784 8,760 8,760 8,760 8,784 8,760
Gross Energy Generated (before auxiliary deductions) 197,229,600 MWhe 0 3,931,200 3,952,800 3,942,000 3,942,000 3,942,000 3,952,800 3,942,000
Gross Energy Generated (before auxiliary deductions) 197,229,600 3,944,592 MWhe 0 3,931,200 3,952,800 3,942,000 3,942,000 3,942,000 3,952,800 3,942,000
Energy Sent Out 193,679,467 3,873,589 MWhe 0 3,860,438 3,881,650 3,871,044 3,871,044 3,871,044 3,881,650 3,871,044
Average during
Net Efficiency % 43.4% % 0.0% 43.4% 43.4% 43.4% 43.4% 43.4% 43.4% 43.4%
Fuel Consumption (MWht), Gross 454,147,105 9,082,942 MWht 0 9,052,105 9,101,842 9,076,974 9,076,974 9,076,974 9,101,842 9,076,974
Fuel Consumption (MWht), Net 454,147,105 9,082,942 MWht 0 9,052,105 9,101,842 9,076,974 9,076,974 9,076,974 9,101,842 9,076,974
Thermal energy to fuel energy conversion MWht per Mtonne

Fuel Consumption (tonnes or therms) 62,401,892 1,248,038 tonne 0 1,243,801 1,250,635 1,247,218 1,247,218 1,247,218 1,250,635 1,247,218
56976059.xls 04/28/2011 32 / (56)

Operation

Power Production
PLANT PERFORMANCE
Average during
Available Operating Hours during the Period Hours 8,760 8,760 8,784 8,760 8,760 8,760 8,784 8,760
Gross Energy Generated (before auxiliary deductions) 197,229,600 MWhe 3,942,000 3,942,000 3,952,800 3,942,000 3,942,000 3,942,000 3,952,800 3,942,000
Gross Energy Generated (before auxiliary deductions) 197,229,600 3,944,592 MWhe 3,942,000 3,942,000 3,952,800 3,942,000 3,942,000 3,942,000 3,952,800 3,942,000
Energy Sent Out 193,679,467 3,873,589 MWhe 3,871,044 3,871,044 3,881,650 3,871,044 3,871,044 3,871,044 3,881,650 3,871,044
Average during
Net Efficiency % 43.4% % 43.4% 43.4% 43.4% 43.4% 43.4% 43.4% 43.4% 43.4%
Fuel Consumption (MWht), Gross 454,147,105 9,082,942 MWht 9,076,974 9,076,974 9,101,842 9,076,974 9,076,974 9,076,974 9,101,842 9,076,974
Fuel Consumption (MWht), Net 454,147,105 9,082,942 MWht 9,076,974 9,076,974 9,101,842 9,076,974 9,076,974 9,076,974 9,101,842 9,076,974

Fuel Consumption (tonnes or therms) 62,401,892 1,248,038 tonne 1,247,218 1,247,218 1,250,635 1,247,218 1,247,218 1,247,218 1,250,635 1,247,218
56976059.xls 04/28/2011 33 / (56)

Operation

Annual Period Starting 1-Jan-2030 1-Jan-2031 1-Jan-2032 1-Jan-2033
Annual Period Ending 31-Dec-2030 31-Dec-2031 31-Dec-2032 31-Dec-2033
Operating Year No 16 17 18 19
Operational Flag 1 1 1 1
Proportion in Year Operation 100% 100% 100% 100%
Power Production
PLANT PERFORMANCE
Average during
Gross Plant Output (MW) MWe 500 500 500 500
Output Degradation 100.0% % 100.0% 100.0% 100.0% 100.0%
Net Plant Output (MW) MWe 500 500 500 500
Available Operating Hours during the Period Hours 8,760 8,760 8,784 8,760
Overall Availability Total 90.0% % 90.0% 90.0% 90.0% 90.0%
Gross Energy Generated (before auxiliary deductions) 197,229,600 MWhe 3,942,000 3,942,000 3,952,800 3,942,000
Auxiliary Power Requirement % 1.8% 1.8% 1.8% 1.8%
Gross Energy Generated (before auxiliary deductions) 197,229,600 3,944,592 MWhe 3,942,000 3,942,000 3,952,800 3,942,000
Energy Sent Out 193,679,467 3,873,589 MWhe 3,871,044 3,871,044 3,881,650 3,871,044
Average during
Gross Efficiency % 45.6% % 45.6% 45.6% 45.6% 45.6%
Net Efficiency % 43.4% % 43.4% 43.4% 43.4% 43.4%
Fuel Consumption (MWht), Gross 454,147,105 9,082,942 MWht 9,076,974 9,076,974 9,101,842 9,076,974
Heat Rate Degradation % 100.0% 100.0% 100.0% 100.0%
Fuel Consumption (MWht), Net 454,147,105 9,082,942 MWht 9,076,974 9,076,974 9,101,842 9,076,974

Fuel Consumption (million tonnes or million therms) 62 1 Mtonne 1.2 1.2 1.3 1.2
Fuel Consumption (tonnes or therms) 62,401,892 1,248,038 tonne 1,247,218 1,247,218 1,250,635 1,247,218
56976059.xls 04/28/2011 34 / (56)

Coal Sheet Check: 0

Annual Period Starting 1-Jan-2006 1-Jan-2007 1-Jan-2008 1-Jan-2009 1-Jan-2010 1-Jan-2011 1-Jan-2012
Annual Period Ending 31-Dec-2006 31-Dec-2007 31-Dec-2008 31-Dec-2009 31-Dec-2010 31-Dec-2011 31-Dec-2012
Operation Year Flag 0 0 0 0 0 0 0
Operation Flag 0 0 0 0 0 0 0
Proportion of Period in Operation 0% 0% 0% 0% 0% 0% 0%
Decomissioning Flag 0 0 0 0 0 0 0
Proportion in Year Decommissioning 0% 0% 0% 0% 0% 0% 0%
Index Year Flag 1 2 3 4 5 6 7
Decommissioning
56976059.xls / 04/28/2011 Decommissioning 35 / (56)

Coal Sheet Check: 0

Index Year Flag 8 9 10 11 12 13 14
Decommissioning

Coal Sheet Check: 0

Index Year Flag 15 16 17 18 19 20 21
Decommissioning

Coal Sheet Check: 0

Index Year Flag 22 23 24 25 26 27 28
Decommissioning

Coal Sheet Check: 0

Annual Period Starting 1-Jan-2034
Annual Period Ending 31-Dec-2034
Operation Year Flag 20
Operation Flag 1
Proportion of Period in Operation 100%
Decomissioning Flag 0
Proportion in Year Decommissioning 0%
Index Year Flag 29
Decommissioning

Coal Sheet Check: 0

Waste Disposal Spend Flag 0 0 0 0 0 0 0
Proportion in Year Waste Storage 0% 0% 0% 0% 0% 0% 0%
Index Year Flag 1 2 3 4 5 6 7
Waste Disposal
56976059.xls / 04/28/2011 Waste 40 / (56)

Coal Sheet Check: 0

Index Year Flag 8 9 10 11 12 13 14
Waste Disposal
56976059.xls / 04/28/2011 Waste 41 / (56)

Coal Sheet Check: 0

Index Year Flag 15 16 17 18 19 20 21
Waste Disposal
56976059.xls / 04/28/2011 Waste 42 / (56)

Coal Sheet Check: 0

Index Year Flag 22 23 24 25 26 27 28
Waste Disposal
56976059.xls / 04/28/2011 Waste 43 / (56)

Coal Sheet Check: 0

Annual Period Starting 1-Jan-2034
Annual Period Ending 31-Dec-2034
Operation Year Flag 20
Operation Flag 1
Proportion of Period in Operation 100%
Waste Disposal Spend Flag 0
Proportion in Year Waste Storage 0%
Index Year Flag 29
Waste Disposal
56976059.xls / 04/28/2011 Waste 44 / (56)

Finance

Year Flag 0 1 2 3 4 5 6
Project Life Flag (Start to End) 0 0 1 1 1 1 1
Years in Operation 0 0 0 0 0 0 0
Operational Phase Flag 50 0 0 0 0 0 0 0
Start of Operations Flag 0 0 0 0 0 0 0
End of Operations Flag 0 0 0 0 0 0 0
Project Finance Phase Flag 0 0 0 0 0 0 1
Construction Phase Flag 0 0 0 0 0 0 1
Construction / Operations Flag 0 0 0 0 0 0 1
End of Decommissioning Flag 0 0 0 0 0 0 0
Finance
CONSTRUCTION FINANCING
Financing Flag Total 0 0 0 0 0 1

Senior Debt Repayment Schedule 100.0 % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Senior Debt Interest Rate 6.26% 6.26% 6.26% 6.26% 6.26% 6.26%
Arrangement fee - circularity copy / paste area

Calculated arrangement fee 8,254
Arrangement fee used by model 8,254
Difference 0
Re-run macro? 0
Senior Debt I
Balance b/f Total 0 0 0 0 0 0
Debt Drawdown - Principal 395,536 0 0 0 0 0 56,714
Debt Drawdown - Arrangement Fee 8,254 0 0 0 0 0 8,254
Total Loan Amount before Repayments 0 0 0 0 0 64,968
Interest capitalised 63,015 0 0 0 0 0 4,067
Senior Debt I Special Repayments 0 0 0 0 0 0 0
Senior Debt I Repayments (466,806) 0 0 0 0 0 0
Balance c/f 0 0 0 0 0 0 69,035

Check 0
Interest Due (121,459) 0 0 0 0 0 (4,067)
Senior Debt Service 0 0 0 0 0 ( 4 067)
56976059.xls 04/28/2011 45 / (56)

Finance

Annual Period Starting 1-Jan-2012 1-Jan-2013 1-Jan-2014
Annual Period Ending 31-Dec-2012 31-Dec-2013 31-Dec-2014
Year Flag 7 8 9
Project Life Flag (Start to End) 1 1 1
Proportion of Period in Operation 0% 0% 0%
Years in Operation 0 0 0
Operational Phase Flag 50 0 0 0
Start of Operations Flag 0 0 0
End of Operations Flag 0 0 0
Project Finance Phase Flag 1 1 1
Construction Phase Flag 1 1 1
Construction / Operations Flag 1 1 1
End of Decommissioning Flag 0 0 0
Finance
Financing Flag Total 1 1 1

Senior Debt Repayment Schedule 100.0 % 0.0% 0.0% 0.0%
Senior Debt Interest Rate 6.26% 6.26% 6.26%

Difference 0
Re-run macro? 0
Senior Debt I
Balance b/f Total 69,035 172,432 361,376
Debt Drawdown - Principal 395,536 93,238 167,654 77,929
Debt Drawdown - Arrangement Fee 8,254 0 0 0
Total Loan Amount before Repayments 162,274 340,086 439,305
Interest capitalised 63,015 10,158 21,289 27,500
Senior Debt I Special Repayments 0 0 0 0
Senior Debt I Repayments (466,806) 0 0 0
Balance c/f 0 172,432 361,376 466,806

Check 0
Interest Due (121,459) (10,158) (21,289) (27,500)
Senior Debt Service ( 10 158) ( 21 289) ( 27 500)
56976059.xls 04/28/2011 46 / (56)

Finance

Year Flag 10 11 12 13 14 15 16
Project Life Flag (Start to End) 1 1 1 1 1 1 1
Years in Operation 1 2 3 4 5 6 7
Operational Phase Flag 50 1 1 1 1 1 1 1
Start of Operations Flag 1 0 0 0 0 0 0
End of Operations Flag 0 0 0 0 0 0 0
Project Finance Phase Flag 1 1 0 0 0 0 0
Construction Phase Flag 0 0 0 0 0 0 0
Construction / Operations Flag 1 1 1 1 1 1 1
End of Decommissioning Flag 0 0 0 0 0 0 0
Finance
Financing Flag Total 1 1 1 1 1 1 1

Senior Debt Repayment Schedule 100.0 % 0.0% 0.0% 100.0% 0.0% 0.0% 0.0% 0.0%
Senior Debt Interest Rate 6.26% 6.26% 6.26% 6.26% 6.26% 6.26% 6.26%

Difference 0
Re-run macro? 0
Senior Debt I
Balance b/f Total 466,806 466,806 466,806 0 0 0 0
Debt Drawdown - Principal 395,536 0 0 0 0 0 0 0
Debt Drawdown - Arrangement Fee 8,254 0 0 0 0 0 0 0
Total Loan Amount before Repayments 466,806 466,806 466,806 0 0 0 0
Interest capitalised 63,015 0 0 0 0 0 0 0
Senior Debt I Special Repayments 0 0 0 0 0 0 0 0
Senior Debt I Repayments (466,806) 0 0 (466,806) 0 0 0 0
Balance c/f 0 466,806 466,806 0 0 0 0 0

Check 0
Interest Due (121,459) (29,222) (29,222) 0 0 0 0 0
Senior Debt Service ( 29 222) ( 29 222) ( 466 806) 0 0 0 0
56976059.xls 04/28/2011 47 / (56)

Finance

Annual Period Starting 1-Jan-2022 1-Jan-2023 1-Jan-2024 1-Jan-2025 1-Jan-2026 1-Jan-2027
Annual Period Ending 31-Dec-2022 31-Dec-2023 31-Dec-2024 31-Dec-2025 31-Dec-2026 31-Dec-2027
Year Flag 17 18 19 20 21 22
Project Life Flag (Start to End) 1 1 1 1 1 1
Proportion of Period in Operation 100% 100% 100% 100% 100% 100%
Years in Operation 8 9 10 11 12 13
Operational Phase Flag 50 1 1 1 1 1 1
Start of Operations Flag 0 0 0 0 0 0
End of Operations Flag 0 0 0 0 0 0
Project Finance Phase Flag 0 0 0 0 0 0
Construction Phase Flag 0 0 0 0 0 0
Construction / Operations Flag 1 1 1 1 1 1
End of Decommissioning Flag 0 0 0 0 0 0
Finance
Financing Flag Total 1 1 1 1 1 1

Senior Debt Repayment Schedule 100.0 % 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Senior Debt Interest Rate 6.26% 6.26% 6.26% 6.26% 6.26% 6.26%

Difference 0
Re-run macro? 0
Senior Debt I
Balance b/f Total 0 0 0 0 0 0
Debt Drawdown - Principal 395,536 0 0 0 0 0 0
Debt Drawdown - Arrangement Fee 8,254 0 0 0 0 0 0
Total Loan Amount before Repayments 0 0 0 0 0 0
Interest capitalised 63,015 0 0 0 0 0 0
Senior Debt I Special Repayments 0 0 0 0 0 0 0
Senior Debt I Repayments (466,806) 0 0 0 0 0 0
Balance c/f 0 0 0 0 0 0 0
Check 0
Interest Due (121,459) 0 0 0 0 0 0
Senior Debt Service 0 0 0 0 0 0
56976059.xls 04/28/2011 48 / (56)


Year No 1 2 3 4 5 6 7 8 9
Proportion in Year Operation 0% 0% 0% 0% 0% 0% 0% 0% 0%
Indexation
INDICES
INDEX VALUES
Indeces / I (2006)
RPI 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
INDEX FACTORS
Index Factors / I (2006)

RPI 1 1.028 1.056 1.085 1.115 1.145 1.177 1.209 1.242 1.277
56976059.xls / 04/28/2011 Index 49 / (56)


Year No 10 11 12 13 14 15 16 17 18
Indexation
INDICES
INDEX VALUES
Indeces / I (2006)
RPI 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
INDEX FACTORS

RPI 1 1.312 1.348 1.385 1.423 1.462 1.502 1.544 1.586 1.630
56976059.xls / 04/28/2011 Index 50 / (56)


Year No 19 20 21 22 23 24 25 26 27
Indexation
INDICES
INDEX VALUES
Indeces / I (2006)
RPI 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75% 2.75%
INDEX FACTORS

RPI 1 1.674 1.720 1.768 1.816 1.866 1.918 1.970 2.025 2.080
56976059.xls / 04/28/2011 Index 51 / (56)


Year No 28 29
Proportion in Year Operation 100% 100%
Indexation
INDICES
INDEX VALUES
Indeces / I (2006)
RPI 2.75% 2.75%
INDEX FACTORS

RPI 1 2.137 2.196
56976059.xls / 04/28/2011 Index 52 / (56)

0
Copy No. 001
New Build Evaluation Model

Financial Model Version:
Version 2006
0
Preparation Date:
April 28, 2011
- The use of Financial Model is Subject to the Disclaimer -

0
Report W/sheet
Header / Footer Titles

CenterHeader worksheet name &A
Left Footer filename &F
CenterFooter date &D
RightFooter page / (pages) &P / (&N)
0 1 2 3 4 5 6 7 8 9
(L)and /
Name Area Name Worksheet Zoom HorizCenter? VertiCenter? CenterHeader LeftFooter CenterFooter
(P)ortrait
Cover Page Prt_Cover Cover L 75 FALSE FALSE FALSE FALSE FALSE

Disclaimer Prt_Disclaimer Disclaimer L 75 TRUE TRUE FALSE FALSE FALSE
Financial Model Structure Prt_FMStruc Structure L 65 FALSE FALSE TRUE FALSE FALSE
Summary (Key Input & Results) Prt_Smry Smry L 66 FALSE FALSE TRUE TRUE TRUE
Sensitivity Table Prt_SensitTable Sensit L 73 FALSE FALSE TRUE TRUE TRUE
Graphs Prt_Chart Graphs L 70 FALSE FALSE TRUE TRUE TRUE
Levelised Costs Prt_LevelisedCosts Levelised costs L 73 FALSE FALSE TRUE TRUE TRUE
Decommissioning Prt_Decom Decommissioning L 73 FALSE FALSE TRUE TRUE TRUE
Waste Prt_Waste Waste L 73 FALSE FALSE TRUE TRUE TRUE
-------------------------------
Main Assumptions Prt_InputMain Input_Main L 55 FALSE FALSE TRUE TRUE TRUE
Assumptions / Coal Prt_Coal Input_Coal L 55 FALSE FALSE TRUE TRUE TRUE
------------------------------
Predevelopment Prt_Predev Pre_Constr L 64 FALSE FALSE TRUE TRUE TRUE
Construction Prt_Construction Pre_Constr L 64 FALSE FALSE TRUE TRUE TRUE
------------------------------
Plant Performance Prt_PlantPerform Operation L 64 FALSE FALSE TRUE TRUE TRUE
Power Revenue / PPA Prt_PowerRevPPA Operation L 64 FALSE FALSE TRUE TRUE TRUE
Power Revenue / Market Prt_PowerRevMerchant Operation L 64 FALSE FALSE TRUE TRUE TRUE
------------------------------
Fuel Calc. (Spot & GSA) Prt_Fuel1 Operation L 64 FALSE FALSE TRUE TRUE TRUE
Other Volume Rel. Costs Prt_OtherVolRelCosts Operation L 60 FALSE FALSE TRUE TRUE TRUE
Non-Volume Rel. Costs Prt_NonVolRelCost Operation L 64 FALSE FALSE TRUE TRUE TRUE
Power/Fuel, Oper Margins Prt_OperMargins Operation L 64 FALSE FALSE TRUE TRUE TRUE
------------------------------
Interest During Construction Prt_IDC Finance L 64 FALSE FALSE TRUE TRUE TRUE
------------------------------
Indices Prt_Indices Index L 64 FALSE FALSE TRUE TRUE TRUE
------------------------------
56976059.xls / JM / 04/28/2011 PrtDefn 55 (56)

10
RightFooter
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
56976059.xls / JM / 04/28/2011 PrtDefn 56 (56)

Power Generation Financial Model

Caricato da

Informazioni sul documento

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

Power Generation Financial Model

Caricato da

Copyright:

Formati disponibili

New build assessment of various technologies

DISCLAIMER 28 Apr 2011 12:36 PM

Model prepared by: Department of Trade and Industry

New Build Evaluation Model Structure

Graphs Sensitivity Summary

Coal Print Control

PLANT DESIGN COMPONENTS PLANT DATA

COST OF GENERATION FINANCE PARAMETERS

Levelised Cost (£/MWh) 26.14 Predevelopment Finance - Equity 100%

MODEL CONTROL CHECK

Pre-dev Calc Check OK 0

56976059.xls 04/28/2011 3 / (56)

56976059.xls 04/28/2011 4 / (56)

Nuclear PWR 1 37.51 31.24

Current electricity price (£/MWh) 50.0

56976059.xls 04/28/2011 5 / (56)

56976059.xls / 04/28/2011 Levelised costs 6 / (56)

Total (£/MWh) 26.14

56976059.xls / 04/28/2011 Levelised costs 7 / (56)

Design Kind Assumptions Graph Scenario (Non vs. Escalated)

Levelised cost of generating electricity

Power/fuel margin and operating margin Decommissioning and waste funding

56976059.xls / 04/28/2011 Graphs 8 / (56)

064 2068 2072 2076 2080

56976059.xls / 04/28/2011 Graphs 9 / (56)

Design Kind Assumptions Graph Scenario (Non vs. Escalated)

56976059.xls / 04/28/2011 Graphs 10 / (56)

56976059.xls / 04/28/2011 Graphs 11 / (56)

PLANT SENSITIVITIES AND COST OF GENERATING

BASE CASE Base 26.14 21.97

Predevelopment - Low £0m PredevelopmentCost 0 26.14 21.97

56976059.xls / 04/28/2011 Sensitivity 12 / (56)

PLANT SENSITIVITIES AND COST OF GENERATING

BASE CASE Base 26.14

Predevelopment - Low £0m PredevelopmentCost 0 26.14

56976059.xls / 04/28/2011 Sensitivity 13 / (56)

Coal Model Check: OK

Project Assumptions - Main Input Sheet / Coal

Power Plant / Name Price Unit Fuel Units Aux Power

Project Base Data (II)

Modelling Dates Unit

56976059.xls 04/28/2011 14 / (56)

Coal Model Check: OK

Project Assumptions - Main Input Sheet / Coal

Hours in a year 8,760

Time Flag (Annual) 0 0 0 0 0 1 2 3 4 5 6 0 0

Pre-development Distribution 100.0% 0% 25% 25% 25% 25% 0% 0% 0% 0% 0% 0% 0% 0%

56976059.xls 04/28/2011 15 / (56)

Coal Model Check: OK

Project Assumptions - Main Input Sheet / Coal

Operation & Maintenance / Other Operation Costs

Decomissioning Fund Waste Fund

Decommissioning Funding Scenario Waste Funding Scenario

56976059.xls 04/28/2011 16 / (56)

Coal Model Check: OK

Project Assumptions - Main Input Sheet / Coal

Fuel Supply Scenarios - Selected Option

Power Price Assumptions (Merchant / PPA)

Plant Contractual Status / Capacity MW

Power Purchase Agreement (PPA)

Market Price Scenarios

Emission Cost Assumptions

56976059.xls 04/28/2011 17 / (56)

Coal Model Check: OK